Oil continues its Bull trend with a correction towards the upward sloping trend line providing a great place to look for Bullish patterns for longs up towards the targets of 56.86 and 58.79 respectively.
We start the week with US Oil above broken resistance at 52.73 with the pole of a potential Bull flag forming. A correction (the flag) back towards the 52.73 area of resistance turning support will provide a great place to look for Bullish formations and patterns for longs up towards the next key areas of resistance and targets to the upside at 54.48 and 55.23...
Last week US Oil broke above the counter trend line and starts next week above the key area of support at 51.52 as well. Any correction will provide a great opportunity to look for Bullish formations and patterns, looking towards a target of 52.73.
UKOIL complete harmonic bat pattern @55.48 it's an opportunity to be long and get some money $$ The first target is the past high @56.13 the second target @56.61 it's meet 0.618 Fibonacci. We are in safe as long we above the trendline We don't expect to see extreme and fast move - Bollinger band said- but it will move
BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection. this is based on pure TA, so as always, it could be wrong. trade at your own risk.
8/18's candle closed above the 3 SMMA after closing below on 8/17. Therefore, I am expecting 8/21's candle to close above the 3 SMMA . I will be looking for buy signals on the hour time frame that look similar the buy signal on the daily that you see here (candle close below 3 SMMA , then candle close above 3 SMMA ). This is a day trading technique and I will...
Formed an inverse H&S at the 4-Hour chart. Possibly have already 'retested' it.
Suppose 30.0... RETEST!?!? Why not? ;)
A bullish bat harmonic pattern is forming on Brent Oil / USD on the daily chart. 1.27 AB = CD converges with XA 0.886 !!!
If we look at the oil chart for 30 years, we will see that we are in the phase of a long-term correction, the purpose of which is in the region of 11+. I present to your attention a possible scenario of the movement of the instrument.
Looking for a second impulse wave of the Brent Correction
OIL under observation for possible LONG positions. The indicator in my algorithm has shown good results in this last month on the Daily chart (blue rectangles in the original post on my blog). This ticker has been ranging in a box between 53.00 and 56.85 (apart from a couple of false breakouts long) which suggests - together with macro indicators - that the price...
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... Best regards :) Aaron
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) Best regards Aaron